By the Price of Business of Business show, Media Partner of TTUSA.
James Talerico, Jr. who is a contributor on the Price of Business and a leading business consultant with Greater Prairie Business Consulting. Recently he was on the Price of Business show with Kevin Price discussing the paradigm shift in business from “recruiting” to “employee acquisition.” In a recent article on this topic, Talerico wrote:
“Talent acquisition is a problem I have repeatedly confronted while consulting with small businesses for several years now. Given the strong US economy — due in large part to President Trump policies — talent acquisition has emerged as a top human resource management issue in 2018.
“Summarizing the difficulties associated with finding the right people, a 2016 survey by the Society of Human Resource Managers (SHRM) revealed that roughly half of organizations surveyed pointed to three – (3) alarming recruiting problems: (i) a low number of applicants (51%,) (ii) a lack of needed work experience among available candidates (50%,) and (iii) competition from other employers (49%.)
“I would summarize the distinction between “recruiting” and “talent acquisition” as one of intensity. “Recruiting” generally refers to filling vacancies. So, “recruiting” is reactive, short-term, and tactical. By contrast, “talent acquisition,” which I would define as a comprehensive, ongoing strategy to identify present and future talent, has the exact opposite focus: it is proactive, long-term, strategic, and cultural.
“There are many costs associated with not adopting a talent acquisition strategy that plague small businesses today… (read more)